Kennedy Capital Management LLC Acquires 27,011 Shares of Coterra Energy Inc. (NYSE:CTRA)

Kennedy Capital Management LLC raised its holdings in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 8.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 347,887 shares of the company's stock after acquiring an additional 27,011 shares during the period. Kennedy Capital Management LLC's holdings in Coterra Energy were worth $8,885,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Czech National Bank raised its position in shares of Coterra Energy by 6.1% during the fourth quarter. Czech National Bank now owns 159,713 shares of the company's stock worth $4,079,000 after purchasing an additional 9,115 shares during the period. Bourgeon Capital Management LLC raised its holdings in Coterra Energy by 107.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company's stock worth $6,052,000 after buying an additional 122,487 shares during the period. M.E. Allison & CO. Inc. bought a new position in Coterra Energy in the fourth quarter valued at approximately $217,000. Barclays PLC boosted its holdings in shares of Coterra Energy by 3.1% in the third quarter. Barclays PLC now owns 2,147,263 shares of the company's stock valued at $51,425,000 after buying an additional 64,753 shares during the period. Finally, Range Financial Group LLC bought a new stake in shares of Coterra Energy during the fourth quarter worth $1,267,000. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Price Performance

Shares of NYSE:CTRA traded up $0.09 during trading on Tuesday, reaching $25.31. 4,353,585 shares of the company traded hands, compared to its average volume of 6,211,772. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The firm has a market capitalization of $19.34 billion, a PE ratio of 15.25, a PEG ratio of 0.59 and a beta of 0.47. The company's 50 day moving average is $27.32 and its two-hundred day moving average is $26.30.

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Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.22 per share. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.48%. Coterra Energy's dividend payout ratio (DPR) is currently 58.28%.

Insider Buying and Selling at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This represents a 19.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares in the company, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CTRA. Morgan Stanley set a $28.00 target price on shares of Coterra Energy in a research note on Tuesday. UBS Group decreased their price objective on Coterra Energy from $37.00 to $33.00 and set a "buy" rating for the company in a report on Monday, April 7th. Piper Sandler upped their price target on Coterra Energy from $34.00 to $37.00 and gave the stock an "overweight" rating in a research report on Thursday, March 6th. The Goldman Sachs Group boosted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Finally, Truist Financial boosted their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.10.

Coterra Energy Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.